Genasys’ co-CEOs on what the UK insurance industry is calling out for

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There is a lot of discussion across the insurance sector and other industries around buzzwords such as AI, machine-learning and blockchain, Olivier said, and they each have a place wherein they can add a lot of value. But the fact remains that the right solution comes down to finding the right tool for the right problem. And the more you understand the problem at hand, the more you can identify the appropriate technology to solve that, without resorting to “tech for tech’s sake”.

Both the newly appointed executives are relishing the opportunities and the challenges involved with guiding Genasys through

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Global insurance recovery will be faster, stronger than in 2008 -Swiss Re

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The logo of insurance company Swiss Re is seen in front of its headquarters in Zurich, Switzerland February 12, 2019. REUTERS/Arnd WIegmann/File Photo

NEW YORK, July 23 (Reuters) – The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s (SRENH.S) chief Americas economist said on Friday.

Unlike the prior crisis, the pandemic did not weaken insurers’ overall capitalization or financial strength, which allows companies to write new coverage and increase revenue, economist Thomas

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Pandemic Damage In Future Could Be Cut By Public-Private Partnerships, Insurers Tell Congress

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The damage from pandemics in the future could be lessened by public-private partnerships, insurers told the Senate Banking Committee’s Insurance Subcommittee Thursday.

The Subcommittee’s Chair Robert Menendez (D-NJ) and Ranking Minority Member Tim Scott (R-SC) called another pandemic inevitable.

Chubb, the largest publicly-traded property and casualty insurance company, believes a better way forward than what existed at the start of Covid-19 would be to build a public-private partnership between the insurance industry and the federal

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Probe finds insurance sector ripped off loyal customers

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The Central Bank is to propose the banning of higher pricing of insurance premiums for loyal customers from next year after a seismic review of how motor and home insurance premiums are priced.

The financial regulator said that its review of 11 insurance providers and 11 million policy records has shown “that some of the practices identified could result in unfair outcomes for some consumers in the private car and home insurance markets”.

It said that as a result of those practices the cost of premiums paid by some policyholders “deviate significantly” from what those premiums could be expected to

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OCTO Telematics and Ford Team Up to Provide More Accurate Auto Insurance Risk Scores | Business

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BOSTON, Mass. & DETROIT, Mich.–(BUSINESS WIRE)–Jul 22, 2021–

OCTO Telematics today announced a new agreement with Ford Motor Company. By leveraging Ford’s connected vehicle data, OCTO will extend its market-leading predictive insurance risk score, OCTO DriveAbility ® Score. The integration provides a seamless experience for auto insurers and their policyholders with highly accurate pricing based upon driving data sourced directly from Ford vehicles fitted with embedded connectivity.

“We’re excited to be working with OCTO to help provide enhanced scoring capabilities for insurance carriers through Ford’s connected vehicle data” said Kari Novatney, General Manager, Connectivity Strategy & Partnerships, Ford Motor Company.

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China experiments with digital yuan in the insurance sector

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  • China has already implemented the digital yuan in the e-commerce space, salaries and lotteries.
  • Expanding to insurance could make it easier for citizens to get accustomed to using digital yuan and for the central bank to understand how use cases play out in real life.
  • For now, the insurance policy is meant for medical workers in the Nanshan district of Shenzhen who have been diagnosed with COVID-19.

China is starting a new experiment with its new digital yuan, a central bank digital currency (CBDC) that runs on a blockchain platform controlled by the People’s Bank of China. And, this time,

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